Brooklyn Auto Insurance in Indiana

If you have an old car, then, there is no need to think much while buying Brooklyn car insurance for it. Just opt for Brooklyn auto insurance coverage in Indiana that covers the state specified minimums so it has a legal binding. Don't add on extra coverage to the Brooklyn auto insurance for very old cars because it will prove worthless.

Insuring an old car in Brooklyn, Indiana

There is a considerable amount of confusion when it comes to insuring very old cars. What if you own or drive a car that is not worth more than $1000 but need to pay a premium more than the value of your car?

Average insurance cost

People pay varied insurance premiums based on many factors such as their vehicle age and driving record. A recent study indicated that the average auto insurance premium in the United States is approximately $1700. This may not be what you will have to pay as it is an average amount; your premium could be higher or lower based on your case.

Cost of the vehicle

The cost of your insurance premium is calculated based on a number of factors and not only the value of your vehicle. The cost of a vehicle could be anywhere from a few million to a few hundred dollars. Old cars that are now out of date and bear no vintage value constitute this populace of motor vehicles that are worth less than the insurance premiums they attract.

The scenario

The current legal scenario states that driving without insurance in Brooklyn, Indiana is illegal and a severely punishable offence. A repeat offence could leave you poorer by $300 and of course the mandated one year prohibition to drive. It may be highly questionable however to pay an annual insurance premium which at times is double the value of the vehicle itself.

The reasoning

The Department of Motor Vehicles is well aware of this situation and doesn't act upon it for one simple reason. Your car might not be of a sizeable value, however can still cause damage to another car during an accident.

In an accident in which you are at fault you will be liable to pay for the other person's medical bills and damages to their vehicle, now since you have insurance the responsibility of making the payout rests with your insurance company.

Insurance companies take these factors into consideration as well, since they will be the ones liable to settle your claim in the future.

What you can do

The only thing you can do is to keep your insurance to the prescribed state minimum level so you can pay the lowest interest possible. The state minimum level in Indiana is $50,000 for bodily harm and $10000 for property damage. What this means to you is that in an accident you can provide a cover of $50,000 towards medical bills and $10,000 towards repair bills for the vehicle.

Local auto insurance quotes in your area

AutoQuoteNow.com can help you compare car insurance quotes for auto insurance coverage in all of the following ZIP codes in Brooklyn